ProQuest announced today that an affiliate of Goldman Sachs will purchase a significant minority equity interest in the Company, including the stake held by private equity firm ABRY Partners. Goldman Sachs will join majority shareholder Cambridge Information Group (CIG) as a partner.
“Our aim is to continue to strengthen ProQuest’s industry position through organic growth, acquisitions and continuous innovation,” said Kurt Sanford, CEO of ProQuest. “We are thrilled to have Goldman Sachs as an investor and we recognize their investment as affirmation of our strategy and future potential.”
“With an outstanding leadership team and unique information and technology assets, ProQuest is positioned to transform the process of research in universities, libraries, schools and corporations,” said Andy Snyder, CEO of CIG and Chairman of ProQuest. “We are delighted to welcome Goldman Sachs as our new partner. Their involvement will help us continue to build the business and expand its role across the research ecosystem. In addition, we are thankful to ABRY Partners for a terrific partnership over nearly seven years, and we wish them continued success.”
The AP notes that financial terms were not disclosed.
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